SMM Futures Aluminum Review: Macro Factors, Production Resumption, and Inventory Changes Drive "V-Shaped" Price Rebound

[SMM Futures Aluminum Brief Review: Domestic Favourable Macro Front Remains the Main Theme, SHFE Aluminum Prices Showed a "V-Shaped" Rebound Today]

Macro side, endless tariff disputes have sparked concerns about a potential recession in the US economy. The market is also focusing on the US Consumer Price Index data to be released on Wednesday and the Producer Price Index data on Thursday. Traders have now fully priced in the possibility of a US interest rate cut in June.

Fundamentals side, domestic aluminum production resumption is progressing, with capacity to be released by the end of March. Inventory side, after the weekend, domestic aluminum ingot destocking resumed, making the turning point of domestic aluminum ingot destocking essentially clear. Coupled with the "Golden March and Silver April" period, the operating rates of aluminum processing enterprises in the peak season continued to rebound, strengthening support for aluminum consumption.